Philippines: Organic Pigments Market 2024

Organic Pigments Market Size in the Philippines

In 2021, the Philippine organic pigments market increased by 40% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Organic Pigments Exports

Exports from the Philippines

In 2021, shipments abroad of synthetic organic coloring matter and pigments decreased by -11.8% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 263%. Over the period under review, the exports hit record highs at X tons in 2020, and then fell in the following year.

In value terms, organic pigments exports dropped to $X in 2021. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 224%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), India (X tons) and Singapore (X tons) were the main destinations of organic pigments exports from the Philippines, together comprising 71% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +207.8%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Myanmar ($X) constituted the largest markets for organic pigments exported from the Philippines worldwide, with a combined 45% share of total exports. These countries were followed by Singapore, India, Indonesia, Malaysia and Pakistan, which together accounted for a further 42%.

Indonesia, with a CAGR of +109.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average organic pigments export price stood at $X per ton in 2021, falling by -3% against the previous year. In general, the export price, however, saw mild growth. The most prominent rate of growth was recorded in 2016 an increase of 91% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+33.8%), while the prices for the other major destinations experienced more modest paces of growth.

Organic Pigments Imports

Imports into the Philippines

In 2021, purchases abroad of synthetic organic coloring matter and pigments was finally on the rise to reach X tons after two years of decline. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by 40%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, organic pigments imports skyrocketed to $X in 2021. In general, imports posted a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of organic pigments imports to the Philippines, together accounting for 67% of total imports. These countries were followed by Germany, Taiwan (Chinese), Japan, Thailand, South Korea, the United States and Singapore, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +35.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Germany ($X) constituted the largest organic pigments suppliers to the Philippines, with a combined 57% share of total imports. These countries were followed by Japan, Indonesia, the United States, Taiwan (Chinese), Thailand, Singapore and South Korea, which together accounted for a further 30%.

Thailand, with a CAGR of +34.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average organic pigments import price amounted to $X per ton, with an increase of 6.3% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, organic pigments import price increased by +85.4% against 2014 indices. The pace of growth was the most pronounced in 2020 an increase of 20%. The import price peaked in 2021 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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